Norwegian Cruise Line
NCLH
649 hedge funds and large institutions have $9.2B invested in Norwegian Cruise Line in 2025 Q3 according to their latest regulatory filings, with 109 funds opening new positions, 199 increasing their positions, 196 reducing their positions, and 73 closing their positions.
63% more funds holding in top 10
Funds holding in top 10: 8 → 13 (+5)
54% more capital inflows, than outflows
Capital inflows: $1.41B | Capital outflows: $918M
49% more first-time investments, than exits
New positions opened: 109 | Existing positions closed: 73
5% more funds holding
Funds holding: 620 → 649 (+29)
3.31% more ownership
Funds ownership: 79.38% → 82.69% (+3.3%)
2% more repeat investments, than reductions
Existing positions increased: 199 | Existing positions reduced: 196
18% less call options, than puts
Call options by funds: $378M | Put options by funds: $463M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Goldman Sachs
New York
|
+$166M |
| 2 |
Bank of America
Charlotte,
North Carolina
|
+$105M |
| 3 |
UBS Group
Zurich,
Switzerland
|
+$96M |
| 4 |
Point72 Asset Management
Stamford,
Connecticut
|
+$74M |
| 5 |
Citadel Advisors
Miami,
Florida
|
+$69.9M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Marshall Wace
London,
United Kingdom
|
-$63.7M |
| 2 |
Two Sigma Investments
New York
|
-$63.2M |
| 3 |
Squarepoint
New York
|
-$58.9M |
| 4 |
Millennium Management
New York
|
-$56.7M |
| 5 |
Invesco
Atlanta,
Georgia
|
-$50.9M |
NCLH Hedge Fund Activity: Q3 2025 in Review
649 of the 7,658 institutional investors tracked by Wall St. Rank reported a position in Norwegian Cruise Line (NCLH) for Q3 2025, worth a combined $9.2B — up 28% from $7.19B a quarter earlier.
Buyers outnumbered sellers: 109 funds opened new NCLH positions and 73 closed out — a net gain of 36 holders — while 199 added to existing stakes and 196 trimmed.
The largest buyer was Goldman Sachs, adding an estimated $166M. The largest seller was Marshall Wace, cutting an estimated $63.7M.
- 649 institutional investors held Norwegian Cruise Line (NCLH) as of Q3 2025, up from 620 in Q2 2025.
- Funds reported $9.2B of Norwegian Cruise Line stock for Q3 2025, up 28% quarter-over-quarter.
- 109 funds opened new Norwegian Cruise Line positions in Q3 2025 and 73 closed out, a net change of +36 holders.
- The largest Norwegian Cruise Line buyer in Q3 2025 was Goldman Sachs, an estimated $166M added.
- The largest Norwegian Cruise Line seller in Q3 2025 was Marshall Wace, an estimated $63.7M sold.
Based on aggregated 13F filings for Q3 2025.